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RFA kicks off dispositions with $344M in CRE transactions

2 days ago

RFA kicks off dispositions with $344M in CRE transactions

RFA Financial has announced completed and pending CRE property sales valued at approximately $344 million. It plans to sell an additional 1.3 million square feet of assets to redeploy the capital into higher-return strategies.

Rogers may sell stake in $18B sports giant to cut debt: TD

Rogers Communications Inc. could sell off almost one-third of a $25-billion Canadian sports empire to pay down debt this year, according to analysts at TD Securities. Rogers has amassed a 75 per cent stake in MLSE.

BoC holds at 2.25% as Iran war adds price pressure

The Bank of Canada held the overnight interest rate at 2.25 per cent, as it monitors the impacts of the war in Iran and Canada’s slowing economy. The cautious move underscores the uncertainty at the moment.

TOC envisioned around future Woodbine GO station

Woodbine Entertainment is advancing a new redevelopment plan for parts of its massive site in North Etobicoke, replacing an evolving series of plans that started close to 20 years ago with what was originally dubbed "Woodbine Live!"

48-storey tower proposed near Sheppard-Yonge station

Applications have been filed to redevelop a trio of detached houses in North York's Lansing neighbourhood, where Stafford proposes a 48-storey residential rental building designed by Turner Fleischer Architects.

Victoria council rejects 35-storey condo tower proposal

A plan for a 35-storey tower in downtown Victoria failed to get the go-ahead from Victoria council on Thursday, on the grounds that it’s too tall and isn’t what council wants to see in that part of the downtown.

London proposal could test historic building protections

York Developments for has announced plans for a 54-storey, 800-unit residential tower next door to the nearly 200-year-old Middlesex County Courthouse. The courthouse was originally designed to resemble Malahide Castle, built north of Dublin in 1475.

Building owner faces 15 charges in relation to fatal 2023 fire

The owner of an Old Montreal building, where seven people died in a 2023 fire, is being charged with seven counts of manslaughter. Émile Benamor, a lawyer and businessman who owns multiple properties around Montreal, was arrested this morning. 

Surrey hotel proposals gather steam as demand set to rise

With Surrey's population expected to surpass Vancouver's, the city is looking to cement itself as the region’s second downtown. It’s going to need new hotels – especially with the new 10,000-seat City Centre Arena and Entertainment District on the way.

Fairmont Winnipeg to close for extensive renovations

The Fairmont hotel is slated to close for the better part of a year as the downtown property undergoes renovations its owner says will return the building to its position as "the city's pre-eminent luxury hotel."

Snuneymuxw FN takes on full ownership of Nanaimo hotel

Snuneymuxw First Nation’s economic development arm now owns Nanaimo’s newest hotel after buying out its Utah-based partners. Petroglyph Development Group has acquired 100 per cent ownership of the nine-storey, 172-room Courtyard by Marriott Nanaimo hotel from PEG Companies.

Falling rents threaten future rental development

OPINION: It might be the worst time for rental construction developers to take their foot off the pedal, but it could happen given national asking rents have fallen every month for almost 18 months and are at a 33-month low.

Addy collapse shows risks of fractional RE investing

The financial collapse of Addy Technology Corp., a company that crowdfunded millions of dollars for “fractional ownership” shares of Canadian commercial and residential real estate, has laid bare some significant risks in the business model.

Does private real estate make sense for retail investors?

Private real estate funds have become more accessible for retail investors in recent years, offering a new source of diversification and lower-volatility returns. But the practice of halting redemptions, or “gating,” has underscored that the asset class is not without risk.

Derailed sale of $947M JCPenney portfolio may lead to new REIT

A trust overseeing the sale of a JCPenney portfolio could attempt to move the properties into a REIT following a failed deal. Copper Property CTL Pass Through Trust was created in 2020 to sell off nearly 220 properties as part of the retailer's bankruptcy proceedings.

Meta to open NYC retail flagship on Fifth Avenue

Meta Platforms is opening its first flagship store in Manhattan, expanding its push into physical retail. Meta signed a 10-year lease with Vornado Realty Trust for an entire five-storey building at 697 Fifth Ave., adjacent to the St. Regis Hotel.

Fortress launches 1031 fund targeting senior, student housing

Fortress Investment Group is giving baby boomers the opportunity to invest in the senior living sector, where they're fuelling massive growth, through a new 1031 exchange fund. The New York-based alternative asset investment giant launched Fortress Real Estate Exchange.

Industrial outdoor storage surges into stardom

For properties that might look to the uninitiated like glorified vacant lots, industrial outdoor storage assets are rapidly evolving into star performers in the industrial sector, according to a new report from CBRE.

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